What Is the Best Way to Pass On My House?

For many families, the home is the most valuable asset they own. While it may seem easy to leave a house to loved ones, the process can get complicated. Without the right plan, your heirs might face unexpected costs, legal delays, or even be forced to sell the home. By understanding your options for passing on your home, you can help ensure your home transfers smoothly—without added stress or court involvement.

What Should You Think About When Passing On a Home?

Choosing how to pass on your house depends on several important factors:

• Can your heirs afford the ongoing costs? Property taxes, insurance, and maintenance can add up.
• Is avoiding probate important to you? Probate is a legal process that may delay the transfer.
• What are the tax consequences? Some options may cause estate or capital gains taxes.
• Will Medicaid try to recover costs? In certain cases, the state can try to reclaim the home to cover Medicaid expenses.

Discussing these topics with a probate attorney near me can help you find the right plan for your family.

Common Ways to Pass On a Home

1. Leaving the Home in a Will

A will is a simple way to name who should receive your house. But keep in mind—any assets in a will must go through probate, which can take months or even years.

Pros: Easy to create and legally recognized
Cons: Heirs may face long delays, legal fees, and court involvement

If avoiding probate is important to you, consider other options.

2. Placing the Home in a Revocable Living Trust

A revocable living trust is a popular way to keep control of your home during your lifetime while avoiding probate when you pass away.

Benefits of a trust include:

• Skipping the probate process
• Keeping your affairs private (unlike wills, trusts are not public)
• Flexibility to change the terms while you’re alive

Trusts can also help reduce conflict between heirs by clearly outlining who receives the property.

3. Using a Life Estate Deed

A life estate deed allows you to stay in your home for the rest of your life while naming who will inherit it after you pass.

Pros: Avoids probate and provides a clear path for inheritance
Cons: You can’t change the deed later without the heir’s consent

This can be a good choice if you're sure about your plan and want to make things easier for your family. Keep in mind that caution is best whenever transferring real estate via a deed and it's best to work with a qualified real estate attorney to ensure the deed is properly drafted. Read more in our article, The Risks of Using DIY Deeds to Transfer Property

4. Gifting the Home During Your Lifetime

Some people give their home to their children or other loved ones while they’re still alive. This might seem like a quick fix, but it can lead to problems:

• The house won’t get a “step-up” in value for tax purposes, so heirs could pay more in capital gains taxes if they sell it later
• If you need long-term care, giving the house away could affect your Medicaid eligibility for up to five years

Before gifting your home, talk to a probate attorney near me to understand the risks.

Which Option Is Right for You?

Every family is different. The best choice depends on your finances, your goals, and the needs of your loved ones. That’s why it’s helpful to speak with an experienced estate planning attorney who can explain your options in plain terms.

At Campbell Law Firm, we’ve helped East Texas families protect their homes and plan for the future for over 35 years. We take the time to understand your situation and create a plan that works for you.

Ready to Start Planning?

If you’ve been searching for a probate attorney near me in Tyler or Mineola, Campbell Law Firm is here to help. Let’s make sure your home goes to the people you care about, without stress or delay. Book your consultation today with our probate team today.

Key Takeaways

• Wills involve probate, which can delay the transfer of your home.
• Trusts avoid probate, offering faster and smoother transfers.
• Life estate deeds provide clarity, but limit future changes.
• Gifting a home may lead to tax or Medicaid issues, so be cautious.

Planning ahead gives your family peace of mind and helps prevent costly legal issues. Reach out today to speak with a trusted probate attorney near me and start protecting your legacy.

Reference: Fidelity (Aug. 30, 2022) “Leaving your house to your loved ones”